🔥💥Unlocking Bitcoin's Secret: The Halving Cycle Demystified! 💰
What is Bitcoin halving?
Every four years, Bitcoin experiences a halving event where the issuance of new Bitcoins is slashed in half. This pivotal moment directly impacts the rate at which new Bitcoins enter the market, enhancing its scarcity and value.
What happens during Bitcoin halving?
Miners, the backbone of Bitcoin's security, witness a 50% reduction in rewards as the number of new Bitcoins produced dwindles.
Encoded into Bitcoin's protocol, this event occurs approximately every four years or after 210,000 blocks.
Why is Bitcoin halving significant?
Bitcoin's halving fosters scarcity, positioning it as a unique and rare asset in contrast to traditional fiat currencies. With only 21 million Bitcoins in existence, each halving event amplifies its deflationary nature, fueling demand and potentially driving prices upwards.
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